In its initial public offering completed in January 2014, GlycoMimetics raised net proceeds of $57.4 million, after underwriting discounts and offering expenses, from the sale of 8,050,000 shares of its common stock at a price of $8.00 per share, including the full exercise of the underwriters’ option to purchase additional shares. Giving effect to that transaction as if it had occurred on December 31, 2013, the Company’s cash and cash equivalents balance as of that date would have been $59.7 million.